We propose an objective for the firm in a model of production economies extending over time under uncertainty and with incomplete markets. We derive the objective of the firm from the assumption of initial-shareholders efficiency. Each shareholder is assumed to communicate to the firm her...

We evaluate the determinants of matching efficiency changes through a stochastic Cobb- Douglas production frontier model extended to allow the efficiency coefficient to depend on variables meant to capture workers and firms characteristics. We apply this methodology to examine regional...